Laserfiche WebLink
Community Development Agency <br /> www.santa-ana.org/community-development <br /> Item # 27 <br /> City of Santa Ana <br /> 20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br /> July 16, 2024 <br /> TOPIC: Garden Court Apartments Rehabilitation Project <br /> AGENDA TITLE <br /> Public Hearing -Approve an Amended and Restated Regulatory Agreement for the <br /> Rehabilitation of Garden Court Apartments Located at 300 East Santa Ana Boulevard, <br /> Santa Ana, CA 92701 , Adopt a Resolution Approving the Issuance of Revenue Bonds, <br /> and Conduct a Tax Equity Fiscal Responsibility Act (TEFRA) Hearing <br /> Legal notice published in the OC Reporter on July 9, 2024. <br /> RECOMMENDED ACTION <br /> 1 . Authorize the City Manager to execute an amended and restated agreement <br /> containing Affordable Housing Covenants with Orange Housing Development <br /> Corporation for the rehabilitation of Garden Court Apartments located at 300 East <br /> Santa Ana Boulevard, Santa Ana, CA 92701 (APN 398-323-08) (Contingent upon <br /> approval of Housing Authority Item # 3) (Agreement No. A-2024-XXX). <br /> 2. Approve the Relocation Plan and authorize the City Manager to approve <br /> amendments to the Relocation Plan prior to commencement of the rehabilitation of <br /> Garden Court Apartments, substantially in the draft form attached hereto, subject to <br /> changes consistent with the project approved by the City Manager and City Attorney. <br /> 3. Conduct a Tax Equity and Financial Responsibility Act Hearing in consideration of <br /> the issuance of tax-exempt bond financing by the California Municipal Finance <br /> Authority for C&C Development Co., LLC, to finance the acquisition, rehabilitation, <br /> improvement, and equipping of Garden Court Apartments located at 300 East Santa <br /> Ana Boulevard, Santa Ana, CA 92701 (APN 398-323-08). <br /> 4. Adopt a resolution approving the issuance of revenue bonds by the California <br /> Municipal Finance Authority in an amount not to exceed $55,000,000 for financing <br /> the rehabilitation of Garden Court Apartments. <br /> RESOLUTION NO. 2024-XXX entitled A RESOLUTION OF THE CITY COUNCIL <br /> OF THE CITY OF SANTA ANA APPROVING THE ISSUANCE BY THE <br /> CALIFORNIA MUNICIPAL FINANCE AUTHORITY OF EXEMPT FACILITY BONDS <br /> FOR THE GARDEN COURT APARTMENTS <br /> City Council 27 — 1 7/16/2024 <br />